Credit union’s members get a bonus

Excelsior Credit Union said today it has approved a payment of a bonus dividend and an interest refund to its members, to be paid prior to the merger with Capital Communications Federal Credit Union.

A total of $750,000 has been approved for payment and will be divided among Excelsior members in good standing based on loan interest paid and dividends received for the period Jan. 1 through Aug. 31. Payments will be posted to members’ regular share draft accounts in the mid-September.

Excelsior Credit Union and Capital Communications will merge Oct. 1 and use the latter’s name. Following the merger, Capital Communications will have more than 65,000 members and more than $650 million in assets.